7603 N Ira Martin Ave · Crystal River, FL 34428

$163,600

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 38 Days on market

Built 2001 Est $186k · 12% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.1/30.0
• ARV discount +13.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This uniquely remodeled double wide has the amazing mixture of farmhouse style meets art deco. The kitchen comes with a skylight offering plenty of natural light, a double sink for dishes and a separate single sink for doing vegetables washing your hands filling your dog& apos; s water dish. It also has a brand new microwave comes with a refrigerator and a stove, a ceiling fan and all new lighting. The floors are a mixture of tile and wood, and the walls are a wonderful combination of tin and wood flooring. The floor is a wonderful combination of wood flooring and ceramic tile. Living room has new lighting and a ceiling fan. New wall coverings, big enough to entertain and small enough t

Key facts

• Separate single sink
• Ceiling fan
• Brand new microwave

Tags

• REMODELED DOUBLE WIDE
• KITCHEN SKYLIGHT
• DOUBLE SINK
• SEPARATE SINGLE SINK
• BRAND NEW MICROWAVE
• CEILING FAN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $164k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $159k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 2.1% in Crystal River — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#603 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety C-, schools D+, amenities F.
• Citrus (rural): math 49% / reading 50% proficiency, ranked #44 of 73 in FL (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 320 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• At $1,989/mo this rent would consume 47% of the median local household income ($51k/yr) (locally 264% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Citrus County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $2k; list at $164k implies a 6444% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,692 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.53%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $186,240
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9859 W Sunny Day Ct	0.18mi	3/2.0	952 (-1%)	2mo	$185,000	$194	89
7306 N Nathan Pt	0.59mi	2/1.0 (-1)	840 (-12%)	13mo	$100,000	$119	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $6,362
• Equity at exit: $24,393

10-year hold

• IRR: 13.1%
• Equity multiple: 2.04×
• Total profit: $47,823
• Equity at exit: $14,145

Cash invested: $45,808 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34428

• Home prices YoY: -15.3%
• Active inventory: 320
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$858
• Tax from tax record: −$129 /mo · $1,547/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $516

Break-even live

Break-even rent $1,335

Max offer price $163,600

Occupancy floor 69%

Sensitivity live

Price	-10% $609	-5% $563	+0% $516	+5% $470	+10% $424
Rent	-10% $359	-5% $438	+0% $516	+5% $595	+10% $674
Rate	-1.0pp $599	-0.5pp $558	base $516	+0.5pp $474	+1.0pp $431

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $40,900
• Closing costs: $4,908
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $163,600 Active 38 DOM
2. 2026-06-18
   days on market $163,600 Active 37 DOM
3. 2026-06-17
   days on market $163,600 Active 36 DOM
4. 2026-06-16
   days on market $163,600 Active 35 DOM
5. 2026-06-15
   days on market $163,600 Active 34 DOM
6. 2026-06-14
   days on market $163,600 Active 32 DOM
7. 2026-06-13
   days on market $163,600 Active 31 DOM
8. 2026-06-09
   days on market $163,600 Active 28 DOM
9. 2026-06-08
   days on market $163,600 Active 27 DOM
10. 2026-06-03
    days on market $163,600 Active 22 DOM
11. 2026-06-02
    days on market $163,600 Active 21 DOM
12. 2026-06-01
    days on market $163,600 Active 20 DOM
13. 2026-05-31
    days on market $163,600 Active 19 DOM
14. 2026-05-30
    days on market $163,600 Active 18 DOM
15. 2026-05-12
    listed $163,600 Active
16. 2000-12-01
    soldstatus $2,500
17. 1992-08-01
    soldstatus $23,000
18. 1982-07-01
    soldstatus $6,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,547 · $129/mo
• Projected year-2 tax: $1,547 · $129/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,869
• − Mortgage interest: −$9,164
• − Property taxes: −$1,547
• − Insurance: −$818
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − Depreciation: −$4,759
• Taxable income: $3,762
• Est. tax owed @ 24.0%: −$903
• After-tax cash flow: $5,294/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Citrus
• NCES district ID: 1200270
• Math proficiency: 49% ▼ -10.00%
• Reading proficiency: 50% ▼ -6.00%
• Median HH income: $38,618
• Composite: 41.28/100
• National rank: #3519
• State rank: #44 of 73 in FL

Livability — Crystal River

• Score: 66/100
• State rank: #603
• US rank: #11564

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing B- Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Citrus County · 111,314 people
• City population: 10,163
• Metro: Homosassa Springs, FL
• Population (ZIP): 10,163
• Household income: $50,779
• Rent vs Own: 22.8% rent · 77.2% own
• Severe rent burden: 264.0

Population outlook (Citrus County) Hauer SSP2

• Today (2025): 138,622 people
• By 2030: 136,886 · -1.3%
• By 2040: 132,009 · -4.8%
• By 2050: 125,196 · -9.7%
• By 2075: 108,570 · -21.7%
• By 2100: 84,454 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 5% · Canada, Jamaica, South Korea
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Citrus

• 2024 margin: Solid R (+45.9) · D 26.8% · R 72.6%
• 2008→2024 swing: -29.8pp toward R · 2008: -16.1pp · 2024: -45.9pp
• All cycles: 2024: R+45.9 2020: R+41.0 2016: R+39.7 2012: R+21.9 2008: R+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.32%
• Current HPI: 317.7637
• Rent YoY: —
• Metro: Homosassa Springs, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+2626.7% since first listed

4 events — show timeline

• 2026-05-12 Listed $163,600 FSBO.com
• 2000-12-01 Sold (Public Records) $2,500 Public Records
• 1992-08-01 Sold (Public Records) $23,000 Public Records
• 1982-07-01 Sold (Public Records) $6,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $1,547 · +0.5% YoY. Source: county tax records.